Only one member of the Council of Governors of the NBS has not expired
In the Council of Governors of the National Bank of Serbia (NBS), only one out of five members has not expired, but their names have not been excluded from that body, nor have they been removed from the central bank’s website, nor have the two deceased members of that body.
The second mandate of the President of the Council, professor Nebojša Savić, expired in March 2023. Stojan Stamenković’s third mandate expired on July 16, 2023, which is also the date of his death.
The third mandate of Miladin Kovačević, former director of the Republic Institute of Statistics, expired on the date of his death, May 25, 2024. Ivan Nikolić’s third term expired in February 2024.
The mandate, the third in a row, until the beginning of December 2024, lasts only for Nikola Martinović.
The Council of Governors according to the Law on NBS is one of three bodies, in addition to the Executive Board and the governor, and consists of five members elected by the Assembly of Serbia on the proposal of the Assembly’s Finance Committee.
Council members are elected for five years, with the right to re-election. If the position of a member of the Council ends before the end of the term, a new member of the Council is elected for the period until the end of the term of office of the member of the Council whose position has ended.
Council members are not employees of the National Bank of Serbia. At least one member of the Council must have at least ten years of experience in accounting or auditing.
The Council determines the course, adopts a financial plan…
The Council adopts the Statute, on the proposal of the Executive Board, determines the dinar exchange rate regime, on the proposal of the Executive Board, with the consent of the Government, and adopts the foreign exchange reserve management strategy on the proposal of the Executive Board.
In addition, the Council adopts the financial plan of the NBS, adopts its annual financial reports, selects an external auditor and considers his report, evaluates whether the accounting policies and procedures adopted by the NBS are appropriate.
The Council, as necessary, and at least twice a year, submits a report on its work to the Assembly of Serbia.
The governor is obliged to submit a report to the Council at least once every three months on the implementation of monetary policy, as well as on the supervision of financial institutions and the granting and revoking of permits.
The Executive Board is obliged to submit a report to the Council at least once every three months on activities and acts in the field of bank supervision control and restructuring.
The Council, as prescribed by law, may require the Executive Board and the Governor to submit appropriate documentation and data generated during the work.
Council meetings are held as needed, at least once every two months, if at least three members are present, and decisions are made by a majority of votes from the total number of members and there is no possibility of abstaining from voting.
Source: Beta
Photo: BIZLife
Source: bizlife.rs
